Jaipur, 20th January 2018: Institute of Chartered Accountants of India (ICAI) awarded Mr. Deepak Jain, the Chief Financial Officer (CFO) of AU Small Finance Bank as the ’CA CFOof the Year’ in the banking space at the ICAI Awards 2017. The award ceremony was conducted at Nehru Center, Mumbai. The event was attended by renowned industry experts, business executives and eminent leaders across industries.
Sharing his experiences on the occasion, Mr. Deepak Jain, said, “First and foremost I would like to express my gratitude to ICAI and Mr. Sanjay Agrawal, the MD of AU Small Finance Bank. Very few people know that my association with AU and Mr. Agrawal goes back to the days when I was doing CA. Both I and Sanjay did our article ship from the same firm. Following the ‘Entrepreneur of the year’ award that ICAI gave Sanjay last year, this year me receiving the ‘Entrepreneur of the year’ award once again from ICAI, is a matter of immense pride for AU Bank.”
Under the leadership of Mr. Jain,AU added marquee investors like Warburg Pincus, Chrys Capital and Kedara Capital who continue to be the shareholders of the Bank till date. Last year, the company transformed from an NBFC to a Bank and its IPO was oversubscribed more than 54 times making it one of the most successful IPOs of 2017. Speaking on this Mr. Jain highlighted that all this could be possible on with the energy of AU team and support from their families. He also informed that AU Bank employs more than 200 CAs.
About AU Small Finance Bank Limited
Started in 1996 as Au Financiers, AU Small Finance Bank Limited has a long-standingrecord of accomplishment of over two decades of being a retail focused and customer centric institution serving the underbanked and unbanked masses of North, West and Central India.
AU Bank commenced its banking operations on April 19, 2017 and received scheduled commercial bank status on Nov. 1, 2017. As on Sept 30, 2017, AU Bank’s distribution network was at 301 Branches, 113 Asset Centres, 23 offices and 287 ATMs spread across 11 states and one union territory. AU Bank had Gross Asset Under Management of Rs. 12,134 Cr, Total Deposits of Rs. 1,978 Cr and an employee base of 9,974 team members at the end of H1 FY 2018.
AU Bank offers comprehensive suite of asset and liability product and services under Retail and Wholesale Bank. AU Bank’s Retail Loan offerings include Wheels Loan, Secured Business Loans to MSME & SME, Gold Loan, Agri-SME Loans whereas as part of wholesale bank, the bank offers NBFC Loans, Real Estate Group Loans and Business Banking Loans.
On the Liability side, AU Bank offers Current Account, Savings Account, Fixed Deposits, Recurring Deposits and transaction banking services. In addition, AU Bank is also offering Locker services and Third Party products like General Insurance and Life Insurance.
Long Term Credit Rating: IND A+ / Positive (India Ratings)
Short Term Credit Rating: IND A1+ (India Ratings)
web: www.aubank.com | twitter: @aubankindia | facebook : https://www.facebook.com/aubankindia/
Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military 3 armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.
For Further information, please contact
PR & Corp. Com.
Senior Image Manager